Agnieszka's Feed
Mar 9, 2012

S.Africa cuts 2012/13 power rate hike to 16 pct

JOHANNESBURG, March 9 (Reuters) – South Africa’s
energy regulator said on Friday it had cut the increase in
electricity rates for power utility Eskom to 16 percent for the
2012/13 financial year from a previously approved hike of 25.9
percent.

The decision follows Eskom’s application to reduce the hike
after the utility had been asked by the government to ease up on
private and industrial consumers, who have been hit in recent
years with soaring power costs.

Mar 8, 2012

S.Africa goes big on nuclear a year on from Fukushima

JOHANNESBURG, March 8 (Reuters) – South Africa will
come to the rescue of a nuclear industry, still struggling for
customers a year after Japan’s Fukushima disaster, with a tender
for one of the world’s biggest atomic power deals.

Firms from France, the United States, Japan, South Korea,
China and Russia have been lining up for years for a chance to
win the contract worth between 400 billion rand ($52.3 billion)
and a trillion rand($130.8 billion).

Feb 23, 2012

Exxaro-Coal terminal expansion to 100 mln T likely

JOHANNESBURG, Feb 23 (Reuters) – Major South African
coal producers that own shares in the Richards Bay Coal Terminal
(RBCT) may invest to expand the terminal to handle up to 100
million tonnes of coal a year, the head of Exxaro’s
coal unit said on Thursday.

Mxolisi Mgojo said coal miners had been surprised by the
improved rate at which logistics group Transnet transported
their coal via rail to the port in the second half of last year.

Feb 23, 2012

Exxaro-Coal terminal expansion to 100 mln T likely

JOHANNESBURG, Feb 23 (Reuters) – Major South African
coal producers that own shares in the Richards Bay Coal Terminal
(RBCT) may invest to expand the terminal to handle up to 100
million tonnes of coal a year, the head of Exxaro’s
coal unit said on Thursday.

Mxolisi Mgojo said coal miners had been surprised by the
improved rate at which logistics group Transnet transported
their coal via rail to the port in the second half of last year.

Feb 20, 2012

Transnet to borrow $12.9 bln to pay for new capex

JOHANNESBURG, Feb 20 (Reuters) – South African
logistics group Transnet will borrow 100 billion rand
($12.93 billion) over the next seven years to pay for a 300
billion rand infrastructure programme, its chief executive said
on Monday.

The spending plan was heavily promoted in President Jacob
Zuma’s “State of the Nation” policy address this month, with
government officials saying it will help create jobs and
increase the country’s competitiveness.

Feb 16, 2012

Mondi seen sweetening $374 mln bid for Polish unit

JOHANNESBURG/WARSAW, Feb 16 (Reuters) – Shares in
Polish paper maker Mondi Swiecie climbed above an
offer price from its South African parent on Thursday, as
investors bet Mondi Ltd would have to sweeten its $374
million buy-out bid.

The South African paper maker owns two-thirds of Mondi
Swiecie, whose products are used to make items including paper
bags, and offered 69 zlotys ($21.5) per share for the remaining
34 percent of the Polish company.

Feb 16, 2012

S.Africa miners turn violent in costly Implats strike

RUSTENBURG, SOUTH AFRICA, Feb 16 (Reuters) – Thousands
of protesting miners burnt tyres and torched a police office
near Impala Platinum’s Rustenburg mine in South Africa
on Thursday, as a month-long strike at the world’s
second-largest producer of the precious metal turned violent.

Police said a miner died of injuries after being beaten
during an overnight demonstration. Up to 5,000 miners blocked
the road leading to the mine and hurled stones at police,
provincial police spokeswoman Adele Myburg said.

Feb 8, 2012

Sappi earnings tick up as cost cuts help

JOHANNESBURG, Feb 8 (Reuters) – South African paper
maker Sappi posted a slight rise in first-quarter
earnings on Wednesday, lifted by lower input prices and
aggressive cost cuts, and said it expected more improvement
ahead.

As the paper industry struggles to recover from a slump
caused by anaemic demand and overcapacity, Sappi has closed
mills and is targeting higher-margin businesses such as chemical
cellulose, a move analysts say is finally showing results.

Feb 7, 2012

ArcelorMittal S.Africa wary on core market recovery

JOHANNESBURG, Feb 7 (Reuters) – ArcelorMittal South
Africa slid into a full-year loss on the back of higher
raw material costs, lower output and weaker sales and warned
that a pick-up in demand from key construction industry
customers has yet to materialise.

Chief Executive Nonkululeko Nyembezi-Heita said restocking
and lower input prices would bring a significant turnaround in
earnings for the first three months of 2012 compared with the
previous quarter but the outlook was challenging.

Jan 17, 2012

U.S. to ensure oil market balanced despite Iran cuts

JOHANNESBURG (Reuters) – The United States has been working with oil producers to ensure global supplies flow smoothly and ease concerns about a cut-off of crude from Iran, which faces tougher sanctions for its suspected pursuit of nuclear weapons, a senior official said on Tuesday.

U.S. Deputy Secretary of Energy Daniel Poneman also said Washington had been in talks with all oil importers to find alternatives to Iranian supply and would work to avoid any price shocks.